Market Size of Medical Carts Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.50 Billion |
Market Size (2029) | USD 2.25 Billion |
CAGR (2024 - 2029) | 8.48 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Carts Market Analysis
The Medical Carts Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 2.25 billion by 2029, growing at a CAGR of 8.48% during the forecast period (2024-2029).
COVID-19 had a significant impact on the growth of the market during the pandemic period. It was observed that there was a rise in demand for medical carts due to the increase in demand for medical consultation among COVID-19-infected patients. As a result, various market players responded with various market strategies, such as collaborations, to meet the growing demand for medical carts, thereby promoting the market growth. For instance, in February 2020, Ergotron, Inc. (U.S.) and Ingram Micro China Ltd. (China) partnered to donate medical carts. The carts were provided to the Huoshenshanand Leishenshanhospitals' emergency facilities. Twenty-four Ergotron's StyleViewmobile medical carts were transported from the company's facility in Dongguan, southern China, to Wuhan. The carts were used for telemedicine applications and for processing electronic medical records at the hospitals. Such developments during the COVID-19 pandemic had a significant impact on the growth of the market. In addition, the relaxation of strict lockdown regulations during the post-pandemic period led to the resumption of surgeries, outpatient visits, and consultations, in turn driving the demand for medical carts, thereby contributing to the growth of the market over the next five years.
The major factors attributing to the increased adoption of medical carts in recent years are a rise in healthcare facilities, an increased healthcare burden necessitating technological advancements and innovation, and a surge in patient care. Moreover, the reduction in labor costs and the adoption of automation is likely to drive the growth of the medical carts market throughout the forecast period.
Also, the increasing product launches are expected to contribute to the growth of the market over the forecast period. For instance, in December 2021, the AMiS-30EP pole cart was the newest addition to Advantech's AMiS product line, which is a prominent provider of medical computer systems and services. Depending on the application, this product can be supplied with a variety of monitors and devices. As a result of these technical breakthroughs, the market is likely to expand shortly. Moreover, in August 2021, the new Trio mobile computing workstation from Capsa Healthcare has been released. Capsa's Trio point-of-care platform mobilizes electronic health records and supports efficient and precise drug management. As a result of these developments, the market is expected to grow during the forecast period.
In addition, the growing geriatric population and increasing burden of multiple chronic conditions, leading to rising hospital admissions, are likely to drive the market growth. According to a report published by the United Nations in 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12.
Hence, the factors such as launch of advanced products and rising demand for patient care are expected to contribute to the growth of the market. However, factors such as lack of skilled healthcare professionals and high initial capital investments in customized medical carts and workstations may hamper market growth over the forecast period.
Medical Carts Industry Segmentation
As per the report's scope, medical carts are used for medical aid as it simplifies processes, such as recording data as EMRs and storing dispensed equipment, supplies, and patient information to achieve better health outcomes at lower costs. They are medical trolleys and workstations comprising compartments, trays, and a set of drawers that help healthcare providers transport and dispense emergency medical supplies and medical devices. The Medical Carts Market is segmented by cart type (Anesthesia Carts, Emergency Carts, Procedure Carts, and Other Cart Types) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
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Anesthesia Carts | |
Emergency Carts | |
Procedure Carts | |
Other Cart Types |
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Medical Carts Market Size Summary
The medical carts market is poised for significant growth over the forecast period, driven by an increase in healthcare facilities and the rising demand for patient care. The market's expansion is further supported by technological advancements and innovations that enhance the efficiency and functionality of medical carts. The COVID-19 pandemic played a pivotal role in accelerating market growth, as the surge in medical consultations and the need for telemedicine solutions heightened the demand for these carts. Post-pandemic, the resumption of surgeries and outpatient visits continued to fuel market growth. However, challenges such as the shortage of skilled healthcare professionals and high initial capital investments in customized medical carts may impede progress. The emergency carts segment is expected to dominate the market due to their critical role in emergency care settings, supported by advancements in mobility and ergonomics.
North America is anticipated to maintain a substantial share of the medical carts market, driven by increased healthcare expenditures and a rise in surgical procedures. The region's market growth is further bolstered by the prevalence of diseases and injuries, necessitating the use of medical carts. The introduction of innovative products, such as mobile carts with enhanced isolation capabilities, is expected to contribute to market expansion. The competitive landscape of the medical carts market is characterized by the presence of major players who engage in strategic alliances and collaborations to enhance patient satisfaction and market share. Companies like Advantech Co. Ltd, AFC Industries Inc., and Capsa Healthcare are leading the market, with ongoing product launches and technological advancements supporting their growth strategies.
Medical Carts Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Investments in Healthcare Infrastructure with Enhanced Focus on Value-based Patient Care
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1.2.2 Growing Incidences of Emergency Cases, such as Musculoskeletal Injuries and Other Chronic Conditions Coupled with Rising Geriatric Population
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1.2.3 Increased Demand for Medical Carts in Critical Surgical Procedures along with Technological Advancements associated with Medical Carts
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1.3 Market Restraints
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1.3.1 Lack of Skilled Healthcare Professionals
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1.3.2 High Initial Capital Investments in Customized Medical Carts and Workstations
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD Million)
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2.1 By Cart Type
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2.1.1 Anesthesia Carts
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2.1.2 Emergency Carts
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2.1.3 Procedure Carts
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2.1.4 Other Cart Types
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Medical Carts Market Size FAQs
How big is the Medical Carts Market?
The Medical Carts Market size is expected to reach USD 1.50 billion in 2024 and grow at a CAGR of 8.48% to reach USD 2.25 billion by 2029.
What is the current Medical Carts Market size?
In 2024, the Medical Carts Market size is expected to reach USD 1.50 billion.